Siam Cement to spend THB70bn on CO2 reduction measures

Siam Cement Group (SCG) has vowed to spend THB70bn (US$2.08bn) on technological innovations to cut CO₂ emissions from its manufacturing by 20 per cent by 2030.

The new investment is in line with the UN's Sustainable Development Goals (SDG), the Thai government's bio-, circular and green (BCG) economic model and environmental, social and governance standards (ESG), said Roongrote Rangsiyopash, president and chief executive of SCG.

Once it hits the 2030 goal, SCG will continue to move towards a net-zero target by 2050, reducing 5Mt of CO₂ through many projects including afforestation covering 480,000ha of land. 

The company also intends to use biomass and refuse-derived fuel (RDF), carbon capture utilisation and storage (CCUS), electric vehicles and apply artificial intelligence systems to energy management.

"SCG wants to reduce CO₂ emissions because this is a global trend and we aim to become a company that plays a leading role in pushing forward SDGs, BCG and ESG," said Mr Rangsiyopash.

SCG plans to reduce coal usage at its cement plants in Thailand, Vietnam, Laos, Cambodia and Indonesia by 50 per cent in 2022. The company also plans to use more electricity generated by renewable energy for its factories.

Thammasak Sethaudom, vice-president for finance and investment and chief financial officer, said the company plans to spend BHT10bn from the investment budget next year. "We expect to spend THB10bn a year on environmentally friendly investment," he said.